Vietnamese businesses need 'emergency' 2
Ms. Minh (Dong Da, Hanoi) just called to cancel 3 hotel rooms in Da Lat where she and her group of friends planned to go this weekend.
She is just one of 10,000 guests who canceled 3-5 star rooms in Da Lat in February, according to the latest data from the Lam Dong Department of Culture, Sports and Tourism.
A store specializing in serving Chinese customers in Nha Trang closed.
Accommodation – hotels are just a small corner of many activities in the smokeless industry.
Transport enterprises and business units at tourist destinations also suffer from the same situation.
According to initial calculations by the National Tourism Advisory Board (TAB), the tourism industry could lose 7 billion USD in the first quarter and if it lasts until the second quarter, the level of damage could exceed 15 billion USD.
Mr. Tran Trong Kien, Chairman of TAB and also the Board of Directors of Thien Minh Group, also assessed that some industries and occupations could be affected for 6-12 months with great losses.
Aviation is also an industry immediately affected by nCoV.
`If the market recovers in July 2020, the total financial loss caused by the coronavirus could reach the company up to 196 million USD,` Mr. Thanh assumed.
Transporting relief goods to the flight welcoming Vietnamese citizens from Wuhan back home.
Many other industries such as textiles, footwear, electronics, furniture… whose raw materials depend on the Chinese market are also running out of raw materials.
Mr. Nguyen Xuan Duong – Chairman of the Board of Directors of Hung Yen Garment Company said that he can only hold on to raw materials until the end of February. The amount of raw materials for production is equivalent to half a month of running the machine.
A textile factory in Thai Nguyen.
`There are customers who only agree to extend the deadline for another week. If the goods are 3 weeks late, they will no longer accept them. At that time, the only way is to put the goods in the warehouse,` Mr. Duong raised the challenge.
Mr. Truong Van Cam, Vice President of the Vietnam Textile and Apparel Association also warned that if after March, businesses in the industry still lack raw materials, many units will be at risk of closing and workers will lose their jobs.
The `big guy` FDI is also worried about production and business stagnation in the short term.
Faced with this urgent situation, associations and many businesses said they need urgent `aid` from the Government.
According to a quick survey by Division IV, businesses expect support from management agencies to maintain business cash flow, restructure debt, and expand the market.
Currently, the Ministry of Planning and Investment has developed a draft scenario to respond to the impacts of the nCoV epidemic on the Vietnamese economy and will report to the Government on February 12.
According to calculations by the leaders of this ministry, in February there have been no major problems, but if it drags to March 2020, the level of impact will be complicated from the perspective of production, workers to cashiers.
